National income is equal to

Name: National income is equal to
Brand: Quizplus
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Question

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National income is essentially the total income earned by a country's factors of production. It is calculated as the Gross Domestic Product (GDP) minus depreciation (the decrease in value of the country's capital goods). This accounts for the wear and tear on machinery, buildings, and other physical capital over time, providing a more accurate reflection of the country's actual income.

National Income Is Equal to